The key here is remembering that some mistakes are okay. In fact, it's the way most businesses and people grow. One of our personal business coaches had a some great ideas on how to encourage these types of discussions within your company.
From the TAB-Scottsdale blog:
"In July, we had our semi-annual convention in Denver. One session involved the top franchisees and them telling their biggest mistakes. What a great way to learn and grow your business."
"I first read about supporting fast failures in Tom Peter’s book "Thriving on Chaos”. He quotes Soichiro Honda, the founder of Honda Motor as saying. 'Many people dream of success. To me success can only be achieved through repeated failure and introspection. In fact, success represents the 1 percent of your work which results only from the 99 percent that is called failure.'"
1 comments:
Bob almost gave his entire business and estate to a cocaine addict.
Blood is thicker than water, and this can make us thick in our thinking. The good news is that dad changed his mind and did not leave his business to his son, mostly because the key employees had the chance to express their views.
Dad was forced to deal with the grim reality that his son had stolen large sums of money from him when dad let the son operate the company during his hospitalization. Dad also discovered that the smart and loyal long time employees actually hated the drug using son and would quit if he were the CEO/president. Dad put the company up for sale and died a short time after it sold.
The company was sold to a high bidder, and the owners wife was set for life after the sale. The son was allowed a significant sum to start his own business. It all worked out in the end.
Close call. Succession planning and growth stories blog; http://pacquisitions.wordpress.com/
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